SaaS revenues rose 44% and total revenue rose 20%. SaaS revenues came in at $11.1 million and annual recurring revenue rose 25% to $78.3 million. Total revenue came in at $41.2 million, marginally ahead of street estimates. Operating expenses rose 23%, and adjusted EBITDA of $2.4 million came in 42% higher, in line with estimates. Management announced 2024 guidance of revenue growth of 10-15% and SaaS revenue growth of 35-27%. Adjusted EBITDA margin was guided 6% for 2024 and 8-9% for 2025. The valuation post-earnings have risen significantly considering the small size of the company. We like the results, however, would like to see more to justify the valuations it is currently trading at.
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